BaobabPlus Nigeria, a leading solar technology provider, has joined forces with Trade Lenda, a digital microfinance institution, to make sustainable energy accessible to communities and small businesses. Through this partnership, they aim to offer solar generators, freezers, and fridges on loan, revolutionizing the energy landscape and promoting financial inclusion in underserved regions.
Kolawole Osinowo, CEO of BaoabplusNG, emphasized their commitment to providing accessible and affordable solar products to meet the increasing global demand for cleaner energy solutions. This collaboration enables a wider customer base to access solar-powered generators, fridges, and freezers without the initial financial burden.
Trade Lenda’s expertise in tailored financial services and community connections will facilitate the distribution of these solar products through microloans. This approach ensures that customers can harness solar energy without facing significant upfront costs. The partnership offers favorable loan terms and flexible repayment options, creating opportunities for individuals, business owners, and communities to invest in sustainable energy solutions.
Osinowo highlighted Nigeria’s low electrification rate in Africa, emphasizing the need for hybrid energy solutions like solar and gas, especially for big manufacturers.
Oyindamola Olaniyan, COO of Trade Lenda, expressed enthusiasm for the partnership, emphasizing their mission to provide opportunities and unlock potential for SMEs. This collaboration aligns perfectly with their core values of financial empowerment and community development.
By combining their expertise and resources, BaobabPlus and Trade Lenda are working towards a brighter and more sustainable future for communities, individuals, and small business owners. Customers can make installmental payments, ranging from 15-30 percent down payments, to access solar energy from 600w up to 5kw.
Both parties are dedicated to supporting SMEs in Nigeria, recognizing them as vital contributors to the economy. They aim to address challenges related to knowledge and onboarding costs, ultimately driving the adoption of solar solutions in the country. Additionally, they advocate for concessionary financing and a shift towards renewable energy products to reduce reliance on petrol.